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Petróleo Brasileiro S.A. – Petrobras, announces that as of 05/01/23, according to the contracts agreed upon by the Company with the distributors, the updated natural gas sales prices will have an average reduction of 8.1% in R$/m³, in relation to the February-March-April quarter, considering the variation in the price of the molecule and its transportation... Continue Reading →
(OET) Dutch upstream oil and gas company, ONE-Dyas, has awarded N-Sea with a contract to install a subsea power cable between the Riffgat offshore wind farm in the German North Sea and the new, to-be-built N05-A gas production platform. The scope of N-Sea includes the complete scope comprising survey, design, supply, engineering, transport, installation, burial,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/23/2022, informs that the fulfillment of all precedent conditions has been concluded, regarding the transfer of its total interest (100%) in a set of 4 onshore production field concessions, with integrated facilities, located in the State of Espírito Santo - ES, jointly called... Continue Reading →
As the global energy crisis demonstrated last year that the energy security of certain countries hangs by a thread, the American Petroleum Institute (API), a trade association representing the oil and gas industry, has called on the Biden administration to address – what it sees as – the broken permitting process, which is halting U.S. energy... Continue Reading →
(Reuters) - Gunvor Group posted a record net profit of $2.36 billion in 2022 with a strong performance across all trading desks, the energy trader said in a statement on Wednesday. Gunvor's rivals also had a bumper year amid high price volatility and as Russia's war in Ukraine reshaped global commodity flows, with Vitol and Mercuria previously... Continue Reading →
(OEM) In the aftermath of geopolitical challenges, energy and climate crises along with economic side effects from the turbulent events that marked 2022, the UK is pivoting towards renewable and low-carbon energy in a push to strengthen energy security, outlines the new report from the Energy Industries Council (EIC), an energy industry trade association and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the contracting process for the chartering of two platform vessels for the Sergipe Deepwater Project (SEAP), in the Sergipe-Alagoas Basin, about 100 km off the coast. The FPSO (floating production, storage, and oil transfer system) type units will be strategic to expand the availability of... Continue Reading →
Vaca Muerta, one of the world’s largest oil and gas shale reservoirs and Argentina’s most critical asset in helping propel the country’s hydrocarbons output higher, ended the year with outstanding figures. Record production and impressive well performance advances were met by short-term takeaway constraints as many ambitious commitments to increase capacity are yet to be... Continue Reading →
U.S. offshore engineering and construction services firm McDermott has secured a front-end engineering design (FEED) contract with Shell for a gas development project offshore Trinidad and Tobago. Under the contract, McDermott will provide comprehensive FEED services for a wellhead platform, export pipeline system, shore approach, midstream pipeline and onshore control room for the Manatee gas... Continue Reading →
(Reuters) - Portugal will launch a pioneering auction in the second half of this year for rights to sell hydrogen for injection into the national gas grid, which some see as a key step in kickstarting Europe’s fledgling hydrogen market. Under the terms of the auction, energy group Galp Energia will contract to buy hydrogen... Continue Reading →
Brazil Energy Insight 